Intuit is laying off about 3,000 employees, roughly 17% of its global workforce, and closing its Woodland Hills office as part of a restructuring to simplify operations and prioritize artificial intelligence. CEO Sasan Goodarzi said the moves aim to reduce complexity and speed up product delivery. The company has been integrating AI technologies from Anthropic and OpenAI into its products like TurboTax and QuickBooks. These layoffs reflect broader tech industry trends where AI adoption is reshaping workforce needs, with similar cuts happening at other major firms in California.
VictoryShares recently rebalanced three of its free cash flow (FCF) ETFs—VFLO, GFLW, and IFLO—shifting their portfolio focuses. VFLO increased holdings in energy giants like Exxon Mobil and Devon Energy while exiting tech and industrial stocks like D...
Intuit is under investigation by Bleichmar Fonti & Auld LLP for potential securities fraud related to misleading statements about TurboTax pricing ahead of the 2026 tax season. The company claimed it was prepared with the lowest prices to attract DIY...
Stocks declined after Federal Reserve Chairman Kevin Warsh hinted at potential interest rate hikes later this year if inflation rises. Major indices like Nasdaq and S&P 500 dropped over 1%, while bond yields rose, reflecting concerns about higher rat...
